Since its inception in 2005, YouTube has grown to become one of the most trafficked online platforms in the world. Accordingly, second language (L2) research interest on the topic has also increased, with studies investigating its use in formal and informal settings. Given this, the goal of this conceptual paper is to identify patterns within L2 research concerning YouTube in order to develop a better understanding of the benefits and limitations of the video streaming service for language learning purposes. This conceptual article is divided into four primary sections. First, the author justifies the use of YouTube for L2 learning using two theoretical frameworks. Secondly, studies pertaining to YouTube in formal and informal L2 environments are reviewed. The reviewed studies are then analyzed in order to highlight relevant benefits and limitations of the platform for L2 learning. To conclude, L2 research and pedagogical implications are discussed.